Armed Services Continued
- Reduced interest rate on mortgage payments.
- Reduced interest rate on credit card debt.
- Protection from eviction if your rent is $1,200 or less.
- Delay of all civil court actions, such as bankruptcy, foreclosure or divorce proceedings.
The Act states that a reduced interest may be collected on debts incurred prior to the commencement of active duty. This includes interest on credit card debt, mortgages, car loans and other debts at a reduced rate. The service member must send a letter, along with a copy of their mobilization/activation for active duty, to the creditor requesting to invoke their right for interest reduction.
For exact information on the provisions of this Act, please click here.
For additional assistance, you can also click here. Here you will find information regarding your employment rights under The Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA).
What Every Service Member Needs To Know About Identity Theft
You are thousands of miles away from home defending your country; but who is protecting your financial interests at home? Do not become a victim of Identity theft.
Identity theft occurs when someone takes your personal information and commits fraud by using it without your knowledge. Identity theft is a growing crime in this country and identity thieves are opportunists that will prey on anyone. Thieves are always looking for a victim’s personal information: name, address, birth date, Social Security number, etc. They will look through your trash for bank statements, pre-approved credit card offers or even steal your mail from your mailbox. Their goal is to use your information to open lines of credit in your name, to purchase items, obtain cash advances and do all of these things without your knowledge. The responsibility of these obligations may ultimately fall on you. Additionally, these accounts could go into collections and negatively affect your credit.
The average identity theft victim spends over 80 hours and $3,000.00 trying to repair the damage done to their credit report. Do not let this happen to you.
Below are some ways you can protect your name and your credit:
- Place an “Active Duty” alert on your credit reports with all three of the credit reporting agencies, Equifax, Experian and Transunion.
- In writing, advise your utility companies about your deployment. State that no accounts may be opened under your name or social security number until you notify them that your deployment is complete.
- Set up automatic bill payments with your credit cards, mortgage, utility bills, etc. or set up an allotment with your commanding officer. Continue
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